VOCATIONS FOR BOYS 



BANKING 



THE VOCATION BUREAU 
BOSTON 



Vocations for Boys 

Issued by 

The Vocation Bureau of Boston 



BANKING 



Copyright, 1911 
BY THE VOCATION BUREAU OF BOSTON 

6 Beacon Street 






PUBLICATIONS OF THE VOCATION BUREAU 

IN UNIFORM EDITION AT 15 CENTS EACH 

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THE DEPARTMENT STORE AND ITS OPPORTUNI- 
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PRICE 50 CENTS 

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PRESS OF GEO. H. ELLIS CO., BOSTON 



4 



PREFACE 



This bulletin, based on interviews with persons in the 
various branches of the business, as bank presidents, 
cashiers, tellers, bookkeepers, and other employees, and 
on the best authorities and sources of information con- 
cerning banking institutions of all kinds, is not intended 
as an exhaustive study. It presents the nature, divisions, 
magnitude, and growth of the occupation, personal re- 
quirements for entering it, pay and conditions of employ- 
ment, and such other facts as should have weight in de- 
ciding upon this as a life pursuit. This material, in its 
final form, has been carefully scrutinized by numerous 
bankers, economists, and others. 

While the information here given is based mainly upon 
investigation made in Greater Boston, the conditions 
shown in the business are of general application. 

An additional use of this study would be as the basis 
for a similar investigation in one's own locality with a 
view to supplementing the data here presented. Blank 
pages have been provided for this purpose. 



CONTENTS 



Page 

Preface 3 

'the Business: 

Its Nature, Divisions, and Future 7 

The Board of Directors 9 

Executive Officers. 9 

The President and Vice-President 10 

The Cashier and Assistant Cashier 10 

Departments of Bank Work 10 

The Paying Teller 11 

The Receiving Teller 11 

Discount Clerk 12 

Collection Clerk 12 

Corresponding Clerk 12 

Mail Clerk 12 

Exchange Clerk 12 

The Bookkeeping Department 12 

The Head Bookkeeper 13 

The General Bookkeeper. 13 

The Auditor 13 

The Advertising Department 13 

The Advertising Manager and his Assistants 14 

Pay, Positions, and Opportunities 14 

The Boy: 

Qualities and Training Required , 15 

5 



6 CONTENTS 

Page 

Comments by People in the Business 15 

Suggestions from a Banker to a Boy who wishes to enter this 

Occupation 17 

The Annual Report of the Comptroller of the Currency 18 

Statistics Compiled from the Reports of the United States 

Comptroller of the Currency for 1900, 1905, and 1910, 20 

A. Growth in Numbers of Banks, 1900, 1905, and 1910. . 20 

B. Growth of National Banks from 1900 to 1910 20 

C. Chief Items of the Aggregate Resources and Liabilities 

of National Banks in 1900, 1905, and 1910 21 

D. Chief Items of the Aggregate Resources and Liabilities 

of State Banks for 1910 21 

E. Chief Items of the Aggregate Resources and Liabilities 

of Loan & Trust Companies in 1910 22 

F. Number of Savings Banks in the United States, Num- 

ber of Depositors, etc., 1900-1910 22 

Bibliography 23 

Journals of Banking 24 

Schools giving Advanced Courses for this Occupation 24 

Blanks for Notes on Local Studies of this Business 25 



BANKING 



There are five kinds of banking institutions in the The 
United States, — National banks, state banks, trust com- Business 
panies, savings banks, and building and loan associations. ~*f ™ ature 
Besides these there are many private firms of bankers, , Future 
and stock and bond brokerage houses, whose business is 
in many respects closely allied to that of the banks. 

The essential functions of a bank are to receive deposits 
and make loans. There are also a number of other 
services performed by different kinds of banks, such 
as issuing notes and dealing in domestic and foreign 
exchange. 

National banks derive their charters from the National 
Government. They serve as depositories for public 
funds and for individuals and firms. They grant credit 
and in large measure furnish a medium of exchange in 
the form of checks, as well as that of currency which they 
are allowed to issue under the National Bank Act. The 
national bank is a commercial bank and loans largely 
to commercial interests. Sometimes it has a savings 
department. 

State banks are essentially the same in the character 

7 



8 BANKING 

of their business as the national banks, except that they 
do not issue notes. They are chartered by the state and 
regulated by state officials. 

The trust company receives its charter from the state 
in which it is located. It can do all that the national bank 
can, except to issue currency. It receives money on de- 
posit, makes loans, grants credit, acts as trustee for indi- 
viduals and estates and as transfer agent for corporations. 
Some trust companies have savings departments. 

The savings bank, also, receives its charter from the 
state. In Massachusetts and New York all savings banks 
are mutual, the deposits being the capital of the bank 
and not subject to check. Investments of savings banks 
are all limited by public statutes, and first mortgage on 
real estate is the preferred form of security. Mutual 
savings banks are in the nature of philanthropic in- 
stitutions. 

The building and loan association is chartered by the 
state. It is the most democratic form of banking. Its 
distinctive feature is the compulsory system of monthly 
payments by depositors, this being its sole form of de- 
posit. Investments are almost wholly in first mortgages 
on real estate. In Massachusetts the building and loan 
associations are called co-operative banks. 

The stock and bond business is carried on without in- 
corporation usually by brokerage firms which are ordinary 
partnerships. Members of a stock exchange deal in 
railroad and industrial stocks and bonds and in town 
and city bonds. 

The physical conditions of the occupation are of the 
highest grade. A possible danger is that of the mes- 



MANAGEMENT 9 

senger service, on the street and in carrying large sums 
of money. There is great moral danger to young men 
on the speculative side of the stock and bond business, 
and, as a rule, no broker is allowed to receive orders from 
a clerk of another firm. 

There is keen competition among national banks and 
trust companies, in bidding for deposits, and in the stock 
and bond business for speculation and investment. 
There is little competition among savings banks and 
co-operative banks. These have their lists of de- 
positors, and interest rates are controlled by business 
conditions. 

The business of the future in all lines will be excellent, 
because of the vital connection of the banking business 
with the money system of the country, and with all lines 
of activity in the financial and industrial world. 

The management of commercial banks and trust The Board 
companies is vested in a board of directors elected by the of Directors 
shareholders. The usual qualifications for a director 
are that he shall be a citizen of the United States and the 
owner of at least ten shares of the stock of the bank or 
trust company, free from all encumbrance. In the case 
of mutual savings banks these officers are called trustees, 
and are elected by the corporation. 

The chief executive officers of a bank are generally Executive 
the president, vice-president, cashier, and assistant Officers 
cashier. In large banks there may be more than one 
vice-president and more than one assistant cashier. In 
trust companies and savings banks the title of the officer 
whose duties correspond to those of the cashier is usually 
"treasurer." 



10 



BANKING 



The 

President 
and Vice- 
President 



The 

Cashier and 
Assistant 
Cashier 



Departments 
of Bank 
Work 



The president is the chief executive of the board of 
directors. He has general supervision of the business 
of the bank, in its various departments. He determines 
or joins with other officers in determining loans and in- 
vestments and other matters of great importance in the 
business of the bank. The vice-president is usually 
authorized to act in the absence or inability of the presi- 
dent. Otherwise he performs such duties as are assigned 
to him by the directors. 

The cashier is usually the chief executive officer of a 
bank in the routine of its management. He is generally 
made responsible for all the moneys, funds, and valu- 
ables of the bank. He signs all contracts, checks, drafts, 
and circulating notes. The assistant cashier performs 
duties assigned to him by the directors, especially in the 
way of relieving the cashier of smaller responsibilities. 

The departments of a bank are made up of the follow- 
ing divisions: — Paying, receiving, discount or note di- 
vision, collections and correspondence, loans and dis- 
counts, bonds and stocks, foreign exchange, credit, in- 
formation, bookkeeping, and advertising. 



"These departments cover in a general way the work 
that is constantly going on within a bank under the cash- 
ier as the executive head. There may be a chief clerk 
under him who has supervision of the clerical force, 
giving them general instructions and guidance, and 
settling points of doubt on matters of detail about which 
the cashier need not be troubled. There are assistant 
tellers and clerks, messengers, porters, and various em- 
ployees whose number and duties are determined by the 



DEPARTMENTS 11 

volume, character, and variety of the business of the 
particular bank. Though departments may be clearly 
defined in their main function, they come in contact at 
many points and there is much passage to and fro be- 
tween them." * 

In the small bank some of these departments may be 
consolidated, but the duties remain the same even when 
performed by fewer persons. 

The paying teller is provided with money to meet the The 
ordinary demands of a day's business. When a check, Paying 
usually drawn on the bank itself, is presented for pay- Te ller 
ment, the paying teller examines it as to genuineness of 
signature and as to the amount called for, and satisfies 
himself in regard to the identity of the person presenting 
the check. He stamps checks thus paid and enters them 
in a memorandum book. At the close of the day he foots 
up his entries and deducts the amount from his cash on 
hand in the morning. He makes a final statement of 
the day's transactions, turning it over to the general 
bookkeeper. 

The receiving teller is the individual with whom cus- The 

tomers deposit money or other funds. He sees that a Receiving 

Teller 
customer's deposit slip shows clearly the amount de- 
posited, and enters the amount in the pass-book of the 
depositor. He also enters the name of the depositor and 
the amount in a blank book, which must contain all the 
day's transactions and agree with the amount of cash 
deposited. He assorts each day's deposits, doing up 
currency in bags or packages, and stamping and listing 
checks. In a very large bank the receiving teller acts as 

*The Modern Bank, by A. K. Fisk, D. Appleton & Co., New York, 1904. 



12 



BANKING 



Discount 
Clerk 



Collection 
Clerk 



Correspond- 
ing: Clerk 



Mail Clerk 



Exchange 
Clerk 



The Book- 
keeping 
Department 



receiver only; the details of the division are attended to 
by other clerks or departments. 

The duty of the discount clerk is to number and enter 
in a book called the discount register all loans and dis- 
counts made by the bank. He keeps a memorandum 
of all payments upon loans and discounts, at the close of 
the day giving a statement to the general bookkeeper 
and turning over all money received to the paying teller. 
In some banks these duties are performed by the note- 
teller. 

The collection clerk has charge of all time drafts and 
notes, not payable on demand, turning them over to the 
note-teller or corresponding clerk, just previous to ma- 
turity. 

The corresponding clerk keeps a record of all items 
to be sent away by mail and sends them as time for pay- 
ment approaches. He receives remittances and passes 
them to the discount clerk or note-teller. 

The mail clerk opens the mail received, checks off the 
contents of letters, and turns over all papers to the proper 
officials or departments of the bank. At the close of the 
day's business he sees that remittances and collections 
from individuals and banks are acknowledged. 

The exchange clerk fills out checks or drafts on other 
banks or bankers, has them signed by the proper officer, 
and receives and turns over to the proper teller all money 
or checks taken in payment. 

In the banking business it is especially necessary that 
all transactions shall be recorded in a clear, simple, and 
systematic manner. Every precaution must be taken to 
guard against fraud or dishonesty from any source. A 



DEPARTMENTS 13 

modern bank is compelled to do many things involving 
much clerical labor and expense, and resulting in a very 
elaborate bookkeeping system. In an especial sense the 
business of a bank rests upon the efficiency of its book- 
keeping force. 

The head bookkeeper has charge of this important The Head 
division of the work. He must be a skilled accountant, Bookkeeper 
have executive ability, and understand thoroughly all 
details of the bank's activities. 

The " general bookkeeper'' is the term applied in banks The General 
to the bookkeeper who keeps the " general ledger" of Bookkeeper 
the bank, upon which, simply and accurately recorded, 
appear condensed results of all transactions, and the re- 
sources and liabilities of the business under their chief 
divisions. He keeps, also, a separate account for every 
bank with which business is done, a profit and loss ac- 
count, and a " general statement" book in which bal- 
ances are shown. He, also, must be a reliable and skilled 
accountant. 

In large banks there is an auditor, who reviews accounts, The Auditor 
vouchers, and records of receipts and expenditures, and is 
in direct charge of the accounting department. 

A recent departure in some of the larger financial in- Department 
stitutions is the establishment of an advertising depart- °* 
ment which attends to all the publicity work of the ismg 

various departments. By the formation of such a division 
better results can be obtained than when this work is 
handled by an officer in the bank or by some outside 
agency. 

The work of this department consists in bringing to 
the attention of the public the various ways in which a 



14 



BANKING 



The 

Advertising 
Manager 
and his 
Assistants 



Pay 

Positions 
and 

Opportu- 
nities 



financial institution can serve 'it. The methods em- 
ployed in doing this are by advertising in the newspapers 
and financial magazines, by sending out special literature, 
and by personal solicitation. 

The advertising manager*, with a corps of assistants, 
gives his entire time to the planning and carrying out 
of ways and means of securing new business. 

The employees of such a division necessarily must have 
a general idea of the details of the various departments 
in order that they may be able to explain to the public, 
either personally or through the channels mentioned 
above, any of the departments in an intelligent man- 
ner. Therefore the men selected for this work are 
generally those who have had experience in several 
departments. 

In the lowest position in banking, that of errand boy, 
very young boys receive $4.00 and $5.00 a week. For 
regular messenger service the pay begins at $6.00 a week 
or $300 a year, increasing, on an average, at the rate of 
$100 a year. Young men as check-tellers, clerks, book- 
keepers, and bond-salesmen receive from $800 to $1000 
a year. The average bank employee receives about 
$1100 a year. Tellers, who must be responsible and 
able men usually of thirty years, or over, have salaries 
ranging from $2200 upwards. 

Savings banks, being comparatively free from compe- 
tition and more conservative in form, pay somewhat 
higher salaries and offer a better future to one who 
must remain in the ranks of the business. 

Bank officers receive high salaries, because of the re- 
sponsibilities involved and the abilities called for. Offi- 



THE BOY 15 

cers and heads of departments in banks are not always 
taken from the employees; they are often selected by 
the directors from their acquaintance in the business 
world. 

Rarely are boys employed in the banking industry under The Boy 
sixteen years, which is the more general age for entering. Qualities 
Some banks will not employ them under nineteen years an draining 
of age on account of the great responsibility of the mes- 
senger service. Boys should be gentlemanly, neat-ap- 
pearing, intelligent, honest, business-like, and able to 
concentrate their minds upon their daily work and to 
keep silent in regard to the bank's business when out- 
side the bank. 

The ordinary high school education is the general re- 
quirement for banking. Some boys enter the business 
without completing the high school course, but are con- 
sequently often unable to make proper advancement. 
Courses in business schools are desirable, and one should 
have fair training in mathematics and bookkeeping and 
be a good penman. In one bank investigated, having 
195 employees, there were but three college graduates, 
one being the cashier. Banking men wish that this 
condition were different, but know that it is best for 
those who enter the occupatiQn to do so during their 
minority. 

" Messenger service is the first stepping stone in bank- Comments 
ing. A boy should realize that here lies his opportunity. b ? Pe °P le m 
The careless messenger will be a careless bookkeeper or 
clerk, and an unsuccessful bank man." 

"The chances of a boy are better in some respects in 
the small bank than in the large one. In the small bank 



16 BANKING 

one learns all parts of the business and has a much better 
future. The successful men in such firms are often chosen 
as officers in the large firm." 

" Service in a bank is educational, even if one does not 
remain, in methods and mental training. But the person 
who goes out in middle life finds it difficult to get a posi- 
tion in the business world." 

"Savings banks do not generally take boys direct from 
school. Age, maturity, and some kind of business ex- 
perience are desired." 

"The opportunities in the advertising department of 
the modern bank present advantages. A young man 
representing a financial institution not only obtains 
valuable experience in the art of salesmanship, but he 
also creates confidence in himself, the value of which 
cannot be over-estimated. One in a position of this kind 
is constantly coming in contact with the higher officials 
of the institution as well as with the general public, and 
the experience he obtains in this manner is sure to be of 
value to him sooner or later." 

"Investment in stocks and bonds is a great business 
and calls for high intelligence." 

"Character comes first, for banking is a business of con- 
tinual trusting in men. Bankers are willing to pay for 
honesty, energy, brains, and good judgment." 

"Banking calls for ability to judge human nature and 
to carry many details in mind, for accurate and rapid 
thought and for clear and firm decision." 

"Bank combinations in Boston in recent years have 
given prominence to men who had achieved success in 
their smaller field, or in their particular form of banking 



COMMENTS 17 

experience. On the other hand such combinations have 
sometimes left efficient men without employment." 

"Every consolidation brings a search for the best men, 
and every bank is looking for the right kind of young 
man." 

"A boy who is to enter a bank should be obliging, Suggestions 
punctual, and have a pleasing personality. Things of from a 
prime importance, also, are neatness and accuracy in Ban k er t0 a 
figures and in handwriting. One's penmanship should be . . ° 
legible and rapid. enter this 

" Naturally the boy in a bank should have good habits. Occupation 
The bank clerk is expected to have a high order of be- 
havior; he must not frequent saloons and pool rooms, as 
to do so would endanger his own standing or that of the 
firm by which he is employed. 

"If you feel that you have these qualities and can meet 
these conditions, you may safely enter the banking busi- 
ness. It is difficult to obtain good bank clerks and faith- 
ful and efficient bank officers in the great cities to-day. 

"About March the first each year banks begin to in- 
crease their force on account of the coming summer vaca- 
tions of their employees. Banking business is so heavy 
and so continuous that new boys and young men must be 
taken in early enough to learn the duties of those whose 
places they will fill during vacation time. Of the new 
employees thus added annually those who show marked 
ability are retained. The boy also of fair ability and ab- 
solute trustworthiness is usually provided for. 

"Banks very generally also employ boys from the public 
schools, as messengers during the summer vacation. 

"In applying for a position at a bank you should be 



18 BANKING 

able to refer to two or three good men as to your character. 
If nothing comes from the application, keep following it 
up, for the bank wants the boy or man who wants the 
place, and many apply. Take whatever is offered in 
position or in pay, if you want this occupation. You 
will be offered what others are receiving in the same place. 
"You should know, if possible, upon entering a bank 
the names, nature, and principal features of ordinary 
business documents, such as notes, checks, and bills, and 
something of commercial law. Further knowledge of 
business documents will come in your service in the bank. 
Your mathematics may well include practice in algebraic 
problems. Language requirements are simple, extend- 
ing only to the ordinary use of English. If you obtain 
work in the summer vacation, or your service in the bank 
allows, you should later take such courses of study as 
those offered at Harvard on banking. You will thus 
become of greater service to the firm by which you are 
employed, and will more surely place yourself in line for 
advancement." 
The Annual The following tables are drawn from the annual re- 
Report of the ports of the Comptroller of the Currency who is charged 
Comptroller with the duty of c h arter i ng t h e national banks and of 

C rrencv supervising their operation, and with the execution of 
the banking laws of the United States. He makes an an- 
nual report to Congress which contains elaborate statis- 
tical tables showing the condition of national banks for 
the year covered by the report and giving comparable 
figures for previous years. 

The Comptroller obtains and publishes in his annual 
reports information, also, in regard to the various banking 



COMPTROLLER'S REPORT 19 

institutions organized under the authority of the different 
states and territories. This information is obtained from 
state officials and other authentic sources, and is fairly 
complete for incorporated institutions which are gener- 
ally under public supervision. Private banks and bankers 
are supervised in but few states, however, and the reports 
of the Comptroller contain statistics for only about one 
fourth of such banks in the country. The total returns 
published by the Comptroller each year represent about 
83 per cent, of the banking capital of the United States. 



20 



BANKING 



STATISTICS COMPILED FROM THE REPORTS OF THE 
UNITED STATES COMPTROLLER OF THE CURRENCY 
FOR 1900, 1905, AND 1910 

A. Growth in Numbers of Banks, 1900, 1905, and 1910: 



Kinds of banks 


Number 
in 1900 


1905 


1910 


Per cent. 
of increase 
1900-1910 


National banks 


3,617 
4,369 

290 
1,002 
5,485 

989 


5,858 
7,794 
683 
1,237 
5,265 
1,028 


7,218 
9,839 
1,091 
1,759 
5,737 
934 


99.6 


State banks 


125.2 


Loan and trust companies 


276.2 


Savings banks 


75.5 


Building and loan associations * 

Private banks 


4.6 
f0.6 


(The number reporting only.) 




Total numbers 


15,752 


21,865 


26,578 


68.7 







* This includes co-operative banks in Massachusetts, 
t Decrease. 



B. Growth of National Banks from 1900 to 1910: 

Number op National Banks in Existence, Authorized Capital Stock, 
Bonds on Deposit to secure Circulation, Circulation Secured by 
Bonds and by Lawful Money, on March 14, 1900, October 31, 1905, 
and 1910 



Number of banks 

Authorized capital .... 

Bonds on deposit 

Circulation, on bonds. 
Circulation, on lawful 

money 

Total circulation 



March 14, 
1900 



3,617 

$616,308,095 

244,611,570 

216,374,795 

38,027,935 
254,402,730 



Oct. 31, 
1905 



5,858 

$812,026,075 

494,017,850 

489,937,806 

34,470,443 
524,408.249 



Oct. 31, 1910 



7,218 

$1,015,897,135 

694,926,070 

691,335,845 

33,538,463 
724,874,308 



Per 

cent, of 

increase 

1900- 

1910 



99.6 

64.8 

184.1 

219.5 

tl3.4 
184.9 



f Decrease. 



STATISTICS 



21 



Chief Items of the Aggregate Resources and Liabilities 
of National Banks in 1900, 1905, and 1910: 



Resources 



Loans and discounts . 

Bonds 

Cash 



Total resources . 



1900 



$2,706,534,643.35 
508,061,920.00 
500,957,169.06 



$5,412,089,692.52 



1905 



$4,016,735,497.99 
561,776,080.00 
622,092,079.89 



$7,563,155,823.55 



1910 



$5,467,160,637.98 
737,477,181.00 
851,685,037.13 



$9,826,181,452.36 



Liabilities 


1900 


1905 


1910 


Capital stock 

Surplus fund 

Individual deposits . . 


$632,353,405.00 

262,387,647.59 

2,623,997,521.88 


$808,328,658.00 

420,785,055.00 

3,989,522,834.51 


$1,002,735,123.25 

648,268,369.97 

5,145,658,367.65 


Total liabilities 


$5,412,089,692.52 


$7,563,155,823.55 


$9,826,181,452.36 



D. Chief Items of the Aggregate Resources and Liabilities 
of State Banks for 1910: 



Resources 


1910 


Liabilities 


1910 


Loans and discounts 
Bonds 


$2,406,000,000.00 
303,600,000.00 
240,580,836.12 


Capital stock 

Surplus 


$435,822,833.58 
187,571,005.45 


Cash 


Individual deposits 


2,727,926,986.03 






Total resources .... 


$3,694,958,766.81 


Total liabilities .... 


$3,694,958,766.81 



22 



BANKING 



E. Chief Items of the Aggregate Resources and Liabilities 
of Loan and Trust Companies in 1910: 



Resources 


1910 


Liabilities 


1910 


Loans and discounts 
Bonds 


$2,565,729,106.24 

1,000,263,549.84 

260,129,890.91 


Capital stock 

Surplus 


$367,333,556.37 
432,718,233.98 


Cash 


Individual deposits 


3,073,122,706.20 






Total resources .... 


$4,216,850,061.52 


Total liabilities .... 


$4,216,850,061.52 



F. Number of Savings Banks in the United States, Number 
of Depositors, Amount of Savings Deposits, Average 
Amount Due Each Depositor, and Average per Capita in 
the United States, 1900-1910: 



Year 



1900 
1901 
1902 
1903 
1904 
1905 
1906 
1907 
1908 
1909 
1910 



Number 

of 
banks 



,002 
,007 
,036 
,078 
,157, 
,237 
,319 
,415 
,453 
,703 
,759 



Number 

of 
depositors 



6,107,083 
6,358,723 
6,666,672 
7,035,228 
7,305,443 
7,696,229 
8,027,192 
8,588,811 
8,705,848 
8,831,863 
9,142,908 





Average 


Deposits 


due each 




depositor 


$2,449,547,885 


$401.10 


2,597,094,580 


408.30 


2,750,177,290 


412.53 


2,935,204,845 


417.21 


3,060,178,611 


418.89 


3,261,236,119 


423.74 


3,482,137,198 


433.79 


3,690,078,945 


429.64 


3,660,553,945 


420.47 


3,713,405,710 


420.45 


4,070,486,246 


445.20 



Average 
per 
capita 
in the 
United 
States 



$31.78 
33.45 
34.89 
36.52 
37.52 
39.17 
41.13 
42.87 
41.84 
41.75 
45.05 



BIBLIOGRAPHY 

Practical Banking, Claudius B. Patten. Bradford 
Rhodes & Co., New York, 1902. 

Modern Banking Methods. Alfred R. Barrett. Bank- 
ers' Publishing Co., New York, 1903. 

Digest of the National Bank Act. A. S. Pratt & Sons. 
Washington, D.C., Ed. of 1907. 

Money and Banking. Horace White. Ginn & Co., 

Boston, 1911. 
State Banks and Trust Companies since the Passage of the 

National Bank Act. George E. Barnett. Report 

of the National Monetary Commission, 1911. 
The National Bank Act. Albert S. Bolles. Homans 

Publishing Co., New York, 1888. 

Practical Banking. Albert S. Bolles. Homans Pub- 
lishing Co., New York, 1888. 

Money, Banking, and Finance. Albert S. Bolles. Amer- 
ican Book Co., New York, 1903. 

The Modern Bank. A. K. Fisk. D. Appleton & Co., 
New York, 1904. 

Chapters on the Theory and History of Banking. Charles 
F. Dunbar. Edited by O. M. W. Sprague. Put- 
nam, New York, 1904. 

The A B C of Banks and Banking. George M. Coffin. 
Nelson's Wall Street Library, Vol. IV, 1903. 

23 



24 BANKING 

A Simple Explanation of Modern Banking Customs. 
Humphrey Robinson. Edited by W. Overton Harris. 
Small, Maynard & Co., Boston, 1910. 

The Modern Trust Company: Its Functions and Organ- 
ization. F. B. Kirkbridge and J. E. Sterrett. Mac- 
millan Co., New York, 1905. 

The Annual Reports of the Comptroller of the Currency. 
Washington, D.C. 

The Commercial and Financial Chronicle (Bank- 
ing Supplement) New York 

Journals of Banking 

Journal of the American Bankers' Association. . New York 
The Rand-McNally Bankers' 

Monthly Chicago and New York 

The Bankers' Magazine .... Boston, New York, Chicago 

Trust Companies New York 

Bradstreet's, A Journal of Trade, Finance, and 

Public Economy New York 

The Journal of Accountancy New York 

Some Schools giving Advanced Courses for this 

Occupation 

The Association Institute, Boston, Y. M. C. A. 

The Graduate School of Business Administration, Har- 
vard University. 

The Tuck School of Administration and Finance, Dart- 
mouth College. 

New York University School of Commerce, Accounts and 
Finance. 

Wharton School, University of Pennsylvania. 

Chicago University. 



Blanks for Notes on Local Studies or this Business 
1. Nature of Local Banks: 



2. Special Conditions of Employment 



3. Pay, Positions, and Opportunities: 



4. Special Requirements as to the Boy: 



^MM 



5. Bibliography: 



6. Further Special Information: 



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